Attorneys general from multiple conservative states and nonprofit organization Consumers’ Research filed motions seeking to prevent Vanguard from purchasing shares in publicly traded utilities out of a concern that the company’s climate change efforts will raise prices and decrease energy reliability.

The motions filed with the Federal Energy Regulatory Commission argue that Vanguard should not be eligible for blanket authorization to buy shares in public utilities under the Federal Power Act because the asset manager uses market power to advance decarbonization goals. Along with rival firms BlackRock and State Street, Vanguard participates in the Net Zero Asset Managers initiative, through which the companies commit to seek “net zero greenhouse gas emissions by 2050 or sooner” using investment funds.-
[dailywire.com]